ICAP Information expands data products offer with EURO IRO and Global Inflation datasets

ICAP Information, part of TP ICAP, has extended its data products offer with the release of datasets covering EURO Interest Rate Options (IRO) and Global Inflation. By making these datasets commercially available for the first time, TP ICAP aims to provide market participants with greater transparency in a traditionally opaque asset class.

The information in the datasets can be used for price discovery and accurate securities pricing in the front office, as well as risk management, valuation and independent price verification in middle and back office functions. The information also comes with historical data.

The company says the EURO IRO dataset provides an unprecedented level of coverage and granularity in the asset class, while the Global Inflation dataset is a broader offering, encompassing a wide variety of inflation data from across the world.

Ovie Koloko, global head of product management at TP ICAP, explains: “Since last year, the Data & Analytics and Global Broking divisions have been working closely together, the aim being to take advantage of the brokers’ market leading position, gather data from across the business, and make it available to the wider community. Filling existing gaps in quality or coverage, or where information has simply never been accessible before, has been our initial focus.”

Looking forward, the company hopes to create a virtuous circle based on disseminating information more widely, driving better analytics and services in its broking division, and gaining better data. Koloko says the EURO IRO and Global Inflation datasets are just a start and customers can expect more innovative data packages over the coming year.

Trading Technologies adds connectivity to JSE derivatives market

Trading Technologies International (TT) and the Johannesburg Stock Exchange (JSE) have announced that all derivative products listed on the JSE derivatives market are available

for trading through the TT platform. The JSE’s equity derivatives market, formerly known as the South African Futures Exchange (SAFEX), is accessible to TT’s global user base. Clients can leverage TT’s full suite of tools, including functionality for charting and analytics, mobile trading, options, FIX services and API development, to trade equity and currency derivatives, including futures and options, on the JSE derivatives market. TT’s connection to the JSE derivatives market was driven by institutional clients.

FSB publishes UPI governance arrangements

The Financial Stability Board (FSB) has published a report on governance arrangements for the Unique Product Identifier (UPI). The UPI will uniquely identify the product involved in OTC derivatives transactions reported to trade repositories. This will help authorities aggregate data on OTC derivatives transactions by product, allowing the effective use of OTC derivatives trade reporting data to help authorities assess systemic risk and detect market abuse. The Legal Entity Identifier Regulatory Oversight Committee (LEI ROC) will become the International Governance Body for the UPI and Unique Transaction Identifier (UTI). The UPI Technical Guidance should be implemented by Q3 2022.

Broadridge acquires Shadow Financial Systems

Broadridge Financial Solutions has acquired Shadow Financial Systems, a provider of multi-asset class post-trade solutions for the capital markets industry. The acquisition builds on Broadridge’s post-trade processing capabilities by adding a market-ready solution for exchanges, inter-dealer brokers and proprietary trading firms. The acquisition also adds capabilities across exchange traded derivatives and cryptocurrency.

Atlantic Equities Migrates from Bloomberg SSEOMS to Itiviti Platform

Itiviti has taken on another firm needing to replace a Bloomberg SSEOMS platform that is being withdrawn, this time announcing that Atlantic Equities, a US equity agency brokerage, has elected to move to Itiviti’s high touch, low touch, and post-trade suite of hosted solutions. As well as supporting Atlantic’s core trading desks, Itiviti’s solution will be used by Atlantic’s Frankfurt-based team in preparation for the UK’s potential withdrawal from the EU.

Broadridge Releases Centralised Solution for MBS Trade Assignments

Broadridge Financial Solutions has released a centralised Trade Assignment Portal (TAP) that will allow mortgage originators and broker-dealers to transform the execution of Mortgage-Backed Securities (MBS) Trade Assignments. TAP is a web-based platform designed to provide operational efficiency by automating workflow and allowing mortgage originators and broker-dealers to electronically send and receive trade assignments, thereby processing MBS Trade Assignments at a faster rate. Several firms are completing user acceptance testing in preparation for going live on TAP.

EBS Readies Next-generation EBS Direct Platform

EBS, a provider of electronic trading platforms and technology services in foreign exchange markets, and part of CME Group, has launched a next-generation EBS Direct platform with enhanced capacity and speed that will deliver round trip processing times below 50 microseconds. The platform is in beta-testing and is designed to offer faster market data and provide greater certainty of execution and improved fill ratios. EBS will transition clients to the platform in four phases over 18 months. The rollout is expected to be completed by the first half of 2021, after which time current EBS Direct architecture will be decommissioned.

Refinitiv Research Shows Cloud Investment Escalating

Cloud projects are delivering immediate cost reduction, faster innovation and sometimes better than expected results, leading financial institutions to allocate almost half (48%) of their IT budget to public cloud services in 2020, up from 41% this year, according to results of recent Refinitiv research into the use of cloud technology for financial data. The key challenge is managing data privacy controls across multiple datasets in different location, while some firms are limiting use of the cloud because of regulatory concerns. The Refinitiv research is based on telephone interviews with 300 executives at buy-side and sell-side firms.

QuantHouse Adds SpiderRock Data and Analytics to API Ecosystem

QuantHouse has added SpiderRock Gateway Technologies’ proprietary data and analytics service including implied volatility and option prints to the 150+ data sources available through QuantHouse API. SpiderRock provides option analytics as a service delivered in a normalised binary format. As part of the offering, the company delivers implied volatility, greeks, risk slides, and volatility surfaces across US-listed equity and futures derivatives in a real-time feed that allows institutional clients to develop and enhance trading and risk management systems.

SMBC Nikko Replaces Bloomberg SSEOMS with Itiviti OMS Platform

Following Bloomberg’s decision in June 2019 to withdraw its Sell-Side Execution and Order Management Solutions (SSEOMS) and Itiviti’s offer to help SSEOMS users migrate to its OMS, SMBC Nikko London Capital Markets has successfully replaced the Bloomberg platform with Itiviti’s multi-asset OMS for high touch trading in London and added Itiviti’s middle office solutions including UL Middle, UL Books and UK Publisher. SMBC Nikko already included Itiviti in its technology stack and says the latest additions will support its cash equities desks in London, sales trading across Europe and the US, and execution services in Asia.